Month: July 2020

PPP govt wrote off Rs31bn against K-Electric in 2009

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KARACHI: The federal government of Pakistan People’s Party (PPP) in 2009 had written off Rs31 billion owed by K-Electric.An agreement between K-Electric and Pakistan People’s Party government has emerged through which the government wrote off billions of billions owed by the power utility. The amended 2009 agreement allowed for Rs31 billion in arrears to be written off as government losses.The government also acted as a guarantor for K-Electric to take loans from private banks. The agreement also allowed for the company to pass orders contrary to the country’s laws. In…

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Sukkur-Hyderabad Motorway (M-6) under CPEC to improve countrywide network of motorways: Chairman CPEC Authority

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Chairman CPEC Authority Lt. General (retd) Asim Saleem Bajwa has said that the 306 kilometers Sukkur-Hyderabad Motorway (M-6) will promote the socio-economic development of interior Sindh. The M-6 motorway is approved in the Executive Committee of the National Economic Council (ECNEC) on BOT basis. Chairman further underlined that M-6 will enhance motorway connectivity by linking East Balochistan to entire Motorway network in Pakistan. Chairman China-Pakistan Economic Corridor (CPEC) Authority Lt. General (retd) Asim Saleem Bajwa has said that the 306 kilometers Sukkur-Hyderbad Motorway (M-6) will contribute to construction boom. Asim…

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Russia Aims For 15% Of Global LNG Market By 2025

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Ongoing development of new liquefied natural gas (LNG) projects in Russia will allow it to seize a 15-percent share of the global LNG market, Russian Energy Minister Alexander Novak wrote in an article in the Russian magazine Energy Policy. Since Russia began LNG exports in 2009 with the Sakhalin-2 project, its exports of LNG have increased 4.5 times, Novak said. While Russian gas export monopoly, Gazprom, has been busy launching new pipelines east and west – the Power of Siberia to China and TurkStream to Turkey – Russia’s largest private…

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Solar revolution in agriculture: plan beyond present

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PAKISTAN heavily depends on groundwater to sustain its agricultural production and to ensure food security. However, it is feared that the on-going unsustainable groundwater abstractions might have serious repercussions to the sustainability of the agrarian economy of Pakistan. After the green revolution of the 1960s, groundwater use in irrigation has been increasing steadily in Pakistan. Between 1960 and 2010, the overall groundwater share to irrigation water supplies increased from nearly 8 per cent to more than 60pc. The massive increase in groundwater use over the past few decades has been…

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Hydro projects take CPEC program into full swing: expert

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The recently signed agreements in Pakistan for hydropower projects under the China-Pakistan Economic Corridor (CPEC) marked the beginning of a mature new phase for the program, which is under the China-proposed Belt and Road Initiative (BRI), experts told the Global Times on Thursday. The concessional agreement for the 700.7-MW Azad Pattan Hydropower Project was signed last week, a breakthrough for the implementation of the project, according to China Gezhouba Group, the Chinese investor in the project. With a total investment of $1.54 billion, the construction period of the project is expected to…

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